Instructions for Using the Amortization Schedule Calculator

1. Enter Loan Details:

• Loan Amount: Click on the "Loan Amount" field and type in the amount you plan to borrow. Do not include a dollar sign; it will be added automatically. For example, if you're borrowing $250,000, just type `250000`.

• Annual Interest Rate: In the "Annual Interest Rate" field, input the interest rate of the loan as a percentage. For example, if your interest rate is 5%, enter `5`.

• Loan Term: Enter the duration of the loan in years in the "Loan Term" field. For example, for a 30-year loan, just type `30`.

2. Set Start Date:

• Click on the "Start Date" field and choose the date you expect to start the loan. This is typically the closing date of your property purchase.

3. Calculate Schedule:

• Click the “Calculate Schedule” button. This will generate an amortization schedule based on the details you've entered.

4. View Amortization Schedule:

• Once you click the button, the amortization schedule will be displayed below. The schedule includes the date of each payment, the amount, the breakdown of how much goes towards the principal vs. interest, and the remaining balance after each payment.

5. Adjusting Inputs:

• If you need to adjust any inputs, simply change the values in the fields and click “Calculate Schedule” again to update the schedule.

6. Formatting Loan Amount:

• When you finish typing the loan amount and move to another field (or press Tab), the calculator will automatically format the loan amount to include a dollar sign and decimal places.

Note:

• The calculator assumes a fixed interest rate and equal monthly payments.

• The "Loan Amount" field will automatically format your input as a currency (e.g., entering `250000` will change to `$250,000.00` when you exit the field).